Arrowstreet Capital Limited Partnership Increases Stock Position in CorVel Co. (NASDAQ:CRVL)

Arrowstreet Capital Limited Partnership raised its position in shares of CorVel Co. (NASDAQ:CRVL - Free Report) by 516.1% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,086 shares of the business services provider's stock after buying an additional 8,449 shares during the quarter. Arrowstreet Capital Limited Partnership's holdings in CorVel were worth $1,122,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in CRVL. FMR LLC raised its stake in CorVel by 193.1% during the third quarter. FMR LLC now owns 4,306 shares of the business services provider's stock valued at $1,408,000 after purchasing an additional 2,837 shares in the last quarter. Captrust Financial Advisors bought a new stake in shares of CorVel in the 3rd quarter worth about $217,000. Verition Fund Management LLC purchased a new stake in shares of CorVel during the 3rd quarter valued at about $213,000. State Street Corp lifted its holdings in shares of CorVel by 0.8% in the 3rd quarter. State Street Corp now owns 360,068 shares of the business services provider's stock valued at $117,703,000 after acquiring an additional 2,959 shares during the last quarter. Finally, Wolverine Trading LLC grew its position in CorVel by 224.1% in the third quarter. Wolverine Trading LLC now owns 1,241 shares of the business services provider's stock worth $398,000 after acquiring an additional 2,241 shares in the last quarter. Institutional investors own 51.36% of the company's stock.

Wall Street Analyst Weigh In

Separately, StockNews.com upgraded CorVel from a "hold" rating to a "buy" rating in a research report on Tuesday, April 8th.

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CorVel Stock Performance

NASDAQ CRVL traded up $2.28 on Tuesday, hitting $118.66. 135,835 shares of the stock were exchanged, compared to its average volume of 113,637. CorVel Co. has a 52-week low of $76.20 and a 52-week high of $128.61. The firm has a market capitalization of $6.09 billion, a P/E ratio of 69.80 and a beta of 0.94. The stock has a fifty day moving average price of $111.36 and a two-hundred day moving average price of $115.16.

CorVel (NASDAQ:CRVL - Get Free Report) last posted its quarterly earnings data on Tuesday, February 4th. The business services provider reported $0.46 earnings per share for the quarter. CorVel had a net margin of 10.12% and a return on equity of 32.22%.

Insider Activity at CorVel

In other CorVel news, Director Jeffrey J. Michael sold 16,523 shares of the company's stock in a transaction dated Wednesday, April 9th. The shares were sold at an average price of $116.99, for a total value of $1,933,025.77. Following the transaction, the director now directly owns 551,787 shares in the company, valued at $64,553,561.13. This represents a 2.91 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Steven J. Hamerslag sold 10,000 shares of CorVel stock in a transaction that occurred on Thursday, February 6th. The shares were sold at an average price of $123.48, for a total transaction of $1,234,800.00. Following the sale, the director now directly owns 314,000 shares of the company's stock, valued at $38,772,720. This represents a 3.09 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 48,723 shares of company stock worth $5,757,140 in the last quarter. 47.57% of the stock is owned by company insiders.

CorVel Company Profile

CorVel Corporation provides workers' compensation, auto, liability, and health solutions. It applies technology, including artificial intelligence, machine learning, and natural language processing to enhance the managing of episodes of care and the related health care costs. The company also offers network solutions services, including automated medical fee auditing, preferred provider management and reimbursement, retrospective utilization review, facility claim review, professional review, pharmacy, directed care, clearinghouse, independent medical examination, and inpatient medical bill review services, as well as Medicare solutions.